CapitalSource Inc. (NYSE: CSE) said Tuesday it received about $119 million in cash proceeds after closing mortgages backed by the Department of Housing and Urban Development.
The mortgaged facilities are among 40 that are to be sold to Omega Healthcare Investors Inc. around April 1. It will be the second phase of a three-part sale of 103 long-term care facilities to Omega.
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CapitalSource has raised $347 million of the $495 million it has targeted by selling assets as a result of the combined proceeds from the mortgages and the sale of 37 nursing homes to Omega that closed last week.
The lender has reduced its outstanding debt under its syndicated bank facility to $325 million.
CapitalSource shares added 22 cents, or 5.8 percent, to $3.99 in afternoon trading,
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